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News Release from: Chartered Management Institute
Edited by the Manufacturingtalk Editorial
Team on 17 September 2004
UK businesses see growing number female
directors
The number of UK women directors has leaped from less than one in ten to one in seven over the last five years, and female managers' movement in earnings continues to overtake that of males.
The number of women directors has leaped from less than one in ten to one in seven over the last five years, and female managers' movement in earnings continues to increase more than their male counterparts The figures released today form part of the 30th annual National Management Salary Survey of 21,987 individuals, published by the Chartered Management Institute and Remuneration Economics
This article was originally published on Manufacturingtalk on 2 May 2006 at 8.00am (UK)
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They are now earning an average of GBP 39,325, an increase of GBP 2,973 over the last twelve months.
Women managers also earn more, on average, in research and development roles than their male colleagues (GBp 45,100 compared to GBP 44,347).
The research shows an average salary rise of 5 per cent for female managers, across the UK.
With male managers only awarded an average increase of 4.7 per cent these figures represent eight successive years that female earnings growth have outperformed men.
This year's increase in pay also means that, at department manager level, the average female salary breaks the gender gap (GBP 51,854 compared to GBP 50,459).
Sense of direction Female directors now account for 13.2 per cent of all Boardroom posts and the number of women in other senior leadership roles has grown.
More than one quarter (26.2 per cent) of department heads are women compared to less than one-fifth (19 per cent) in 2000.
Women also represent 38.2 per cent of all team leaders (26.5 per cent in 2000).
The survey also suggests that as women exert greater influence at a senior management level the proportion of female resignations is falling.
Female labour turnover has dropped from 6.4 to 5.3 per cent over the past twelve months, whereas male resignations have jumped from 3.3 to 4.2 per cent.
Christine Hayhurst, director of professional affairs at the Chartered Management Institute, says: "The research is immensely encouraging, but there is a long way to go if women are to achieve true parity in the workplace.
There is still only one female chief executive in the FTSE-100 and while there is a significant change in the number of women holding senior leadership positions, they are a minority." She adds: "Huge efforts have been made to work towards equality in the workplace and organisations must continue to put measures in place to meet these demands.
If they don't there is a real danger that we will continue to see a rise in the number of tribunal discrimination cases." 'Post code penalties' The 2004 survey also emphasises the 'post-code penalties' associated with female earning potential.
Unsurprisingly women managers in Inner London enjoy the highest average income (GBP 44,981).
Those living in East Anglia are bottom of the female earnings league table on (GBP 31,067), a difference of 44 per cent.
The region with the most improved package is the North West, having moved from eleventh to fourth in the rankings table.
It represents a vast improvement in this region's fortunes as last year's results showed a drop for the North West from seventh position in 2002.
Paul Campfield, director of Remuneration Economics, comments: "In thirty years there have been a number of significant changes tracked by the National Management Salary Survey.
One of the most fascinating trends has been the expanding role of women in the workplace.
We may have moved away from the 'glass ceiling,' but we now have a duty to ensure that 'Boardroom Greenhouse Effect' allows us to continue to develop our workforce.".
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